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5.
Common Pitfalls
 Not answering question
 Not providing examples
 In section 2 ,answering questions from the same topic
 Not answering the required number of questions
Avoid these!
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6.
PRACTICE EXAM
 The practice exam is a carbon copy of the
structure of the final exam.
 Familiarise yourself!
 Actually do it, under timed conditions!!
 Think of other questions that may be asked in the
actual exam..
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7.
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 Read the question carefully
 Look for key words
 Address all components of the question
- They will all be assigned marks
 Provide examples
 No need for an essay structure – JUST MAKE IT
CLEAR, Bullet points are also fine
 WE don’t need you to reproduce the exact
textbook definition!
Answering Short Answer Questions

8.
ANSWERING ESSAY QUESTIONS
 Must use a more formal essay style of writing.
 Do not try to spill out everything you know!!
Remember to look back at the question and ensure
you stay on track.
 Remember to clearly number your questions.
Which section? Which question number?
Mark question number on exam cover
 Begin a new question on a new page.
 Make sure your writing is readable!!
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9.
9
Use reading time well
– Understand what the question is asking
– Choose which questions you will answer
– Think of examples
If you don’t know, guess!
– You cant lose marks, only gain them!
Relax!!!

10.
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 Plenty of case studies in the text book
 Also throughout they mention many others!!
 When you are writing your revision notes,
include examples and how they can be used
to support each topic.
 EVERY Exam question requires examples.
 Don’t make up examples!
WHERE TO FIND EXAMPLES??

13.
28th February 2011Presentation title 13
A system of values and norms that are shared among a group of people
and that when taken together constitute a design for living.
Elements of Culture
– Religion
– Political Philosophy
– Economic Philosophy
– Education
– Language
– Social Structure
Hofstede’s Cultural Dimensions
Changing Cultures
– Cultural Convergence
– Cultural Divergence
Society and Nation State
CULTURE

17.
17
FDI and the MNE
 What is FDI / What is an MNE?
Forms of FDI
– Greenfield Investment
– Mergers and Acquisitions
Why Choose FDI over other modes of entry?
Benefits/Costs of FDI to home and host nations
Political Ideology
– Radical view
– Free Market View
– National Pragmatism

24.
Presentation title 24
SHORT ESSAY:
Question: Identify the three types of economic systems. Explain the
differences and similarities between them. Use valid examples in your
answer.
The three economic systems are: Command Economy, Market Economy
Mixed Economy. They are different from each other with respect to
“ownership”, “role of government” and “type of government system”.
Free Market Command Mixed
Resources are owned
privately. The consumers
and firms decide the
allocation of resources.
Government has no
control over the
economy. E.g. USA
Resources are owned by
the government. The
government decides the
allocation of resources;
that is what to produce,
how to produce and for
whom to produce. Firms
are not very efficient as
they do not earn profits.
E.g. Soviet Union, Cuba
Resources are owned
both privately and by the
government. Important
sectors like
health,medical,education
are under the government
and less important ones
are under private
ownership. Eg.India

25.
Part B: Long Essay
Question: When expanding globally firms are subjected to two main
types of competitive pressures. What are these? How do these
competitive pressures influence the type of business strategy used by
firms? Discuss using real life examples.
Answering Strategy:
1. UNPACKING
1. Two pressures: Cost and localisation and examples
2. Influence on Business strategy: 4 strategies
3. Examples
2. STRUCTURING
3. WRITING UP
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26.
 INTRODUCTION: Firms undertake internationalization and enter global
markets in order to increase their profitability and profit growth firms. In
the global environment they are faced with two main competitive forces:
(1) pressure for cost reduction and (2) pressure for local
responsiveness. Both these competitive pressures impact business
strategy.
 BODY: Define the two terms.
 Business strategy depends upon the relative strength of these
competitive pressures.
 International (LL), Localisation (LH), Global standardization (HL),
and Transnational (HH)
 E.G. :Xerox, Cars, Intel, Caterpillar
 CONCLUSION: Businesses should therefore carefully consider the
competitive forces operating I the global market and then devise and
implement a suitable strategy. They should also be cognizant of the
dynamic nature of these competitive pressures and make necessary
adjustments in business strategy.
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